Mario Draghi’s Suggestive Comments
Today, ECB will have a meeting, where members should decide whether to tighten the policy or not. Investors assume that interest rate will remain untouched and the bond-buying program tapering will be announced in September. Mario Draghi gave a speech in Sintra. President’s comments were taken as an indication of the Bank’s positive attitude towards the economy. Peter Praet (ECB’s Chief Economist) noted that European Central Bank should be patient and careful, adding that data and inflation will be the main drivers of any policy decisions. Praet also acknowledged that the impulse of the economic recovery has strengthened.